[Probability of Fed Rate Cut in October Approaches 98%] According to data from the CME FedWatch Tool, the probability of the Federal Reserve cutting interest rates by 25 basis points at its October meeting is 96.7%, while the likelihood of maintaining the current rate level is only 3.3%. Additionally, the market expects the probability of the Fed cumulatively cutting rates by 50 basis points by December to reach 94.8%. These figures reflect the market's strong expectations for further easing of the Fed's monetary policy.